5 Partnership Agreement Structures with Templates
A partnership agreement is frequently used for legalizing new business ventures, or for specific purposes that fall under the ‘general’ category. When forming a partnership with another company or individual, it is essential to formalize the agreement with the necessary documents. Below, find 5 sample agreements for partnerships you can begin with.
1. General Partnership Agreement
As the name suggests, this is an agreement sample for general partnership purposes. It states the name, nature, terms and duration of the partnership, with plenty of space available for additional terms and conditions. The document is signed by all parties at the end.
2. Business Partnership Agreement
This business agreement template for partnerships shows that there are numerous similarities with general partnerships. It contains most of the same information, presented in another way. When doing business, you can use either one of these two forms for partnerships.
3. LLC Partnership Agreement
This limited agreement is typically used when two or more partners form a limited liability company. The term is referred to as LLC, whereas the partnership template covers the main details about the future joint business.
4. Basic Partnership Agreement Template
Moreover, a standard agreement like this can be easily tailored to any general purposes. As a result, it includes more custom space for filling out specific details about the nature of the partnership. Also, in Word document form, you can add or delete blank spaces at your convenience.
5. Partnership Dissolution Agreement
The last agreement template on our list is used when dissolving a partnership. Basically, the document expresses the consent of all partners involved in terminating a partnership. It also refers to the initial agreement made among the parties, so make sure you include the original documentation as well.
In conclusion, a partnership agreement is an important part of starting a business that involves two or more entities. To put it shortly, it is a safe, legal way to make the partnership official, by mutual consent. We also strongly recommend working with an attorney when starting new businesses, in addition to the papers you can prepare on your own.